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CHAP - Chaparral Energy: Decision Time For Unsecured Bond Interest Payment Is Coming Up
Chaparral Energy Inc. Class A
There have been a number of energy bankruptcies recently, and Chaparral Energy (CHAP) may end up being another casualty. It needs to decide whether to make an unsecured bond interest payment due July 15. Chaparral appears to have the capability to make that payment but could decide to restructure while it still has a substantial amount of cash on hand.
Chaparral's cash on hand will diminish as it pays back its borrowing base deficiency, and there's a risk of further borrowing base reductions in November. It also has a more limited amount of